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Daikoku Denki fiscal Q4 loss widens YOY

Daikoku Denki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥116.22 per share, compared with a loss of ¥45.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥1.72 billion, compared with a loss of ¥668.1 million in the prior-year period.

The normalized profit margin declined to negative 18.3% from negative 6.9% in the year-earlier period.

Total revenue declined on an annual basis to ¥9.39 billion from ¥9.72 billion, and total operating expenses climbed 12.4% year over year to ¥12.15 billion from ¥10.81 billion.

Reported net income came to a loss of ¥1.87 billion, or a loss of ¥126.70 per share, compared to a loss of ¥658.0 million, or a loss of ¥44.51 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥66.17 per share, a fall of 71.4% from ¥231.43 per share in the prior year.

Normalized net income was ¥978.1 million, a decrease of 71.4% from ¥3.42 billion in the prior year.

Full-year total revenue fell 5.1% from the prior-year period to ¥54.04 billion from ¥56.95 billion, and total operating expenses increased year over year to ¥52.58 billion from ¥51.59 billion.

The company said reported net income declined 73.3% year over year to ¥874.0 million, or ¥59.12 per share, in the full year, from ¥3.28 billion, or ¥221.74 per share.

As of June 26, US$1 was equivalent to ¥123.96.